Kineta Closes Investment Round to Advance Early Preclinical Development of Immuno-oncology Programs
Financing Led by the Scott • Schlaepfer Family Foundation
Seattle, WA -- (May 5, 2020) Kineta, Inc., a clinical stage biotechnology company focused on the development of novel immunotherapies in oncology, neuroscience and biodefense, announced today that they have successfully closed their most recent funding round totaling $5 million. This round was led by the Bellevue-based Scott • Schlaepfer Family Foundation.
"Our team is thrilled to quickly close this round with significant investments from the Scott • Schlaepfer Family Foundation as well as current investors," said Shawn Iadonato, Chief Executive Officer of Kineta. "This funding will allow us accelerate the development of our novel immuno-oncology programs and enable our mission to develop innovative immunotherapies that transform patients’ lives”.
“We appreciate Kineta’s commitment to developing breakthrough therapies for cancer patients, which personally touches so many of our lives,” said Phil Scott Schlaepfer, co-founder of the Scott • Schlaepfer Family Foundation. “Our foundation is proud to invest in this local biotech company and their experienced team of scientists. We recognized Kineta’s excellence in both scientific and business execution several years ago when we made our initial investment. The team at Kineta continues to be a global leader in advancing life-saving research.”
Proceeds from this investment round will be used to fund the early development of Kineta’s immuno-oncology drug programs. Kineta is focused on developing new, best-in-class immunotherapies to address hard-to-treat cancers in a variety of solid tumors.